Scarcity and real estate

Img

Real estate exists in a world of scarcity.

A scarcity of land. A scarcity of building materials. A scarcity of labor. And a scarcity of leaders who make housing policy based on long-term, systems thinking.  

One thing that is not in short supply is people. Our local population is growing quickly, and the options for homeownership aren’t keeping pace. Given this, we expect home and condo inventory will remain low and prices will remain high for the foreseeable future.

So when will be the best time to buy real estate? We believe the best time to buy is right now. Not next year. And not when interest rates fall. But right now. Our belief is hoping and waiting for lower prices and lower rates is likely to backfire and result in missed opportunities and disappointment. 

Of course we encourage you to do your own research on this topic, and come to your own conclusions. We're doing our research, and this is our honest take.